Debenture trustee duties: enforce security creation, monitor receivables, perform due diligence before charges, enable inter creditor agreements. Trust deeds must include statutory content per the Companies Act and Form SH.12 and be divided into Part A (statutory/standard information) and Part B (issue specific details). Debenture trustees must ensure implementation of conditions for creation of security, maintenance of debenture redemption reserve and recovery expense fund, perform quarterly due diligence and monitor asset cover for receivables secured listed debt, obtain half yearly statutory auditor certificates, treat breaches of covenants as reporting triggers, and conduct independent due diligence before creating charges or obtaining existing charge holder consent; trustees may enter RBI framework inter creditor agreements with holder approval.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Debenture trustee duties: enforce security creation, monitor receivables, perform due diligence before charges, enable inter creditor agreements.
Trust deeds must include statutory content per the Companies Act and Form SH.12 and be divided into Part A (statutory/standard information) and Part B (issue specific details). Debenture trustees must ensure implementation of conditions for creation of security, maintenance of debenture redemption reserve and recovery expense fund, perform quarterly due diligence and monitor asset cover for receivables secured listed debt, obtain half yearly statutory auditor certificates, treat breaches of covenants as reporting triggers, and conduct independent due diligence before creating charges or obtaining existing charge holder consent; trustees may enter RBI framework inter creditor agreements with holder approval.
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